The responsibility of the regulatory and administrative framework for corporates in order to make them effective contributors to national development falls under which of the following Ministry of India?

The correct answer is Ministry of Corporate Affairs.

Key Points

• The Ministry of Corporate Affairs (MCA) provides the regulatory and administrative framework for corporates in order to make them effective contributors to national development.
• The Ministry envisions to be a facilitator of world class governance of corporates through the administration of the Companies Act, 2013, Insolvency and Bankruptcy Code, 2016, Competition Act, 2002 and certain other allied statutes.
• The Ministry broadly performs two categories of functions:
  • Policy functions involving formulating legislation and subordinate legislation
  • Regulatory functions involving administration of Acts and rules thereunder